The amended Law on Enterprises that will be submitted to Vietnam’s National Assembly for debate next month will help mobilize more capital and resources for production and business activities, according to what was discussed at a seminar on amendments to the law in Hanoi last week.

>> House to pass 10 laws in May-June session At the event held on April 10, Nguyen Dinh Cung, head of the Central Institute of Economic Management (CIEM), said that changes in the business registration process are among the most important revisions made to the legislation. They are aimed at channeling more capital and resources into production and business, said Phan Duc Hieu, a CIEM official. The revised law will facilitate the establishment of new enterprises, especially those owned by foreign investors, and reduce the costs when investors withdraw from the Vietnamese market, Cung said. In addition, it will ensure the legitimate rights and interests of investors, shareholders, and other stakeholders. Under the amended law, enterprises will really be allowed to do what is not banned in the coming time.

The amendments to the law targets to remove many obstacles that enterprises have faced in their operations in Vietnam, said lawyer Cao Ba Khoat, a leading business expert. The revised legislation, which has nine chapters with 222 articles, maintains the structure of the current Law on Enterprises, but it includes many changes and revisions.

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